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Argentina debt battle puts NY law firm in spotlight  NEW YORK: When nations can't pay their creditors, the phones start ringing at Cleary Gottlieb Steen & Hamilton in New York.   Over the past three decades the firm has become the go-to legal adviser for countries in financials. In the past five years it has represented Greece, the Republic of Congo and the Ivory Coast.   Its work often takes place behind closed doors, but a fight over Argentina's debt that is coming to a head in US courts has pushed the law firm into the spotlight.   For a decade, Cleary Gottlieb has helped Argentina fend off nearly all payment demands from a group of bond investors who refused to go along with the country's steeply discounted debt restructurings.   But now that strategy may backfire, after a federal district court judge on Nov. 21 ordered Argentina to put $1.33 billion into escrow for some of those investors. While the firm scored a temporary victory last ...

Brazil architect Niemeyer not improving: doctor  RIO DE JANEIRO: Brazilian architect Oscar Niemeyer was in stable condition on Monday, one month after the 104-year-old was hospitalized in Rio for kidney failure, his doctor said.   A statement from Samaritano hospital signed by his doctor Fernando Gjorup said Niemeyer was "lucid and continues to receive physiotherapy in the coronary unit", but there was no sign of significant improvement.   Niemeyer, the winner of the 1988 Pritzker prize, is best known as one of the main designers ...
Top UN court to hear Peru-Chile maritime dispute HAGUE: UN's International Court of Justice begins hearings on Monday in a long-running maritime border dispute between Peru and Chile whose outcome could have repercussions in the region.   Peru first applied in January 2008 for recognition of its rights to a 38,000 square kilometre (15,000 square mile) triangle of the Pacific Ocean currently under the control of Chile, in a move that has caused tensions between the two neighbours.   Peru says the maritime borders are unclear and ...
Brazil grew a paltry 0.6pc in third quarter  BRASILIA: The Brazilian economy grew a paltry 0.6 percent in the third quarter of 2012 compared with the previous three months, signaling a weaker than anticipated recovery, the Brazilian statistics office said Friday.   The Institute of Geography and Statistics (IBGE) said the economy rose 0.9 percent in the July-to-September quarter compared with the same period of last year, and a mere 0.7 percent so far this year.   "This third-quarter result signals an improvement. We are on a ...
FIFA concerned over 2014 venue Manaus SAO PAULO: FIFA Secretary General Jerome Valcke, said on Friday he had some "concerns" on the progress of preparations for the 2014 World Cup in the Amazonian city of Manaus.   "We are a little concerned about Manaus - the delivery date will be difficult to meet," Valcke told reporters in Sao Paulo, noting each of the 12 venues had to meet a range of tough criteria.   "For projects which could be late there is no plan B ...
Chilean senate approves controversial fishing law  SANTIAGO: Chile's senate approved a proposed new fisheries law Thursday amid opposition criticism that it would award fishing concessions to just a few families.   Aside from regulating fishing licenses, the controversial measure also would set new fishing quotas and requires the use of Global Positioning Systems (GPS) on boats.   In the run-up to the vote, hundreds of demonstrators marched in Santiago in opposition to the law.   With more than 4,000 kilometers of coastline (2,485 miles), the South American ...
Black murders on the rise in Brazil: study  BRASILIA: Twice as many blacks as whites were murdered between 2002 and 2010 in Brazil, where Afro-Brazilians make up 52 percent of the population, said a government-backed study released Thursday.   The 2012 Map of Violence found that the white murder rate fell 25.5 percent during that period while murders involving blacks soared nearly 30 percent, with 272,422 people of African descent killed.   In 2010, the murder rate for blacks reached 36 per 100,000 inhabitants while that for ...


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Foreign Debt $61.805bn
Per Cap Income $1,386
GDP Growth 4.14%
Average CPI 8.6%
Trade Balance $-19.98 bln
Exports $25.13 bln
Imports $45.11 bln
WeeklyOctober 27, 2014
Reserves $13.464 bln